Uzbekistan and Saudi Arabia have strengthened their strategic economic partnership with new projects in the capital’s development plan, including the construction of the ‘Riyadh Quarter’ in New Tashkent and the launch of a new international airport.
The agreements, signed during high-level meetings, bring the total portfolio of joint initiatives to $30 billion.
Investment Portfolio
At the latest session of the Uzbekistan–Saudi Arabia Intergovernmental Commission and Business Council, the two sides signed 10 new agreements worth $4 billion across energy, healthcare, industry, and transport. Minister of Investments, Industry and Trade Laziz Kudratov said these were “not sovereign loans but direct foreign investments — a sign of Saudi Arabia’s trust in Uzbekistan”.
Saudi Arabia’s ACWA Power continues to play a central role in Uzbekistan’s renewable energy transition, operating solar and wind plants in Tashkent, Bukhara, and Karakalpakstan, as well as managing the Shirin Energy College in Syrdarya. A major new project with Vision Invest (Saudi Arabia) and Air Products (United States) will focus on producing sustainable aviation fuel (SAF) for Uzbekistan’s expanding aviation sector.
New Tashkent Projects
One of the flagship Saudi-backed projects will be the construction of the ‘Riyadh Quarter’ in New Tashkent, to be developed jointly by Al Majdiah and First Avenue companies from Saudi Arabia. The initiative is expected to become a residential and commercial hub symbolising bilateral friendship. President Shavkat Mirziyoyev described it as “a bridge uniting the two nations”.
Aviation Expansion
As part of Uzbekistan’s broader infrastructure modernisation, President Mirziyoyev has also laid the foundation for a new international airport in New Tashkent, to be built in partnership with Vision Invest (Saudi Arabia, 45%), Sojitz Corporation (Japan, 30%), Incheon Airport Corporation (South Korea, 15%), and Uzbekistan Airports (10%). The $2.6 billion project, designed by Dutch firm NACO Consulting, will cover 1,310 hectares and serve up to 20 million passengers annually.
The country also plans to increase its total aircraft fleet from 105 to 180 over the next five years. Recent contracts include Uzbekistan Airways’ order for 14 Boeing 787-9 Dreamliners and an option for 8 more, as well as agreements to acquire 14 Airbus aircraft and lease 5 additional planes.
These steps would help transform Uzbekistan into a “regional aviation hub connecting East and West”. The expanded fleet and airport complex could generate $700 million in annual revenue.
The Middle East crisis intensifies after the deadly attack on Iran's Supreme Leader Ali Khamenei's compound on Saturday that killed him, ot...
Türkiye and Iran have suspended day-trip passenger crossings at their shared border, Türkiye's trade minister said Monday, as a ...
China’s Foreign Minister Wang Yi has held talks with his Russian counterpart Sergei Lavrov following recent mil...
Global air travel remained in turmoil on Monday after U.S. and Israeli strikes on Iran and retaliatory strikes in the Gulf region prompted widespre...
Uzbekistan has expressed deep concern over the rapid escalation of tensions in the Middle East, urging restraint and diplomatic resolution as ...
The Middle East crisis intensifies after the deadly attack on Iran's Supreme Leader Ali Khamenei's compound on Saturday that killed him, other family members and senior figures. Iran has launched retaliatory strikes on U.S. targets in the region.
Türkiye and Iran have suspended day-trip passenger crossings at their shared border, Türkiye's trade minister said Monday, as a U.S.-Israeli military campaign against Iran entered its third day.
China’s Foreign Minister Wang Yi has held talks with his Russian counterpart Sergei Lavrov following recent military strikes carried out by the United States and Israel on targets in Iran, as tensions in the Middle East continue to rise.
Global air travel remained in turmoil on Monday after U.S. and Israeli strikes on Iran and retaliatory strikes in the Gulf region prompted widespread airspace closures across the Middle East, disrupting one of the world’s most important aviation corridors.
Follow the latest developments and global reaction after the U.S. and Israel launched “major combat operations” in Iran, prompting retaliation from Tehran.
Saudi Arabia’s state oil giant Saudi Aramco closed its Ras Tanura refinery on Monday following an Iranian drone strike, an industry source told Reuters as Tehran retaliated across the Gulf after a U.S.-Israeli attack on Iranian targets over the weekend.
The Kremlin is utilising the recent United States and Israeli military strikes on Iran to validate its ongoing war in Ukraine. Russian officials are pointing to the escalation in the Middle East as evidence that Western nations do not adhere to international rules.
Ayatollah Alireza Arafi has moved into a pivotal constitutional role following the death of Supreme Leader Ayatollah Ali Khamenei, becoming the clerical member of Iran’s temporary leadership council under Article 111 of the Constitution of the Islamic Republic of Iran.
The Middle East crisis intensifies after the deadly attack on Iran's Supreme Leader Ali Khamenei's compound on Saturday that killed him, other family members and senior figures. Iran has launched retaliatory strikes on U.S. targets in the region.
The UK said it's allowing the U.S. to use its bases for defensive strikes against Iran amid escalating missile attacks, after a suspected drone strike hit a British airbase in southern Cyprus, causing limited damage.
The Kremlin is utilising the recent United States and Israeli military strikes on Iran to validate its ongoing war in Ukraine. Russian officials are pointing to the escalation in the Middle East as evidence that Western nations do not adhere to international rules.
European Union stands with its member states in the face of any threat, EU Commission President Ursula von der Leyen said in response to the drone strike that hit Britain's Royal Air Force base of Akrotiri in southern Cyprus overnight.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 27th of February, covering the latest developments you need to know.
Protests broke out in Pakistan and Iraq on Sunday after Iranian state media confirmed that Supreme Leader Ayatollah Ali Khamenei had been killed in joint U.S.–Israeli strikes. At least nine people were reported dead in clashes near the U.S. consulate in Karachi.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment